Chancellor questioned on whether she ‘underestimated’ impact of Labour’s non-dom stance on wealthy individuals

Watch as ChancellorRachel Reeves is asked whether she underestimated the number of wealthy individuals who ‘might pack up’ because of Labours stance on non-dom status’s, after the chancellor announced plans to amend her proposal. The changes will allow for a more generous phase-out of tax benefits, Reeves revealed.

Speaking at the WEF, she explained that upcoming legislation will include provisions to make it easier for non-doms to repatriate their funds to the UK.

When BBC’s Laura Kuenssberg questioned whether Reeves had misjudged the potential number of wealthy people leaving the UK due to her policy, the Chancellor responded, “It makes it easier for people to bring money in from overseas for economic growth.”